What Is Cryptocurrency: Everything You Need To Know

What is cryptocurrency?

Cryptocurrency is getting more popular and popular these days, but many people don’t know anything about it. This is the beginner guide for people who are not familiar with cryptocurrency. So let’s get started: 

What Is Cryptocurrency?

Cryptocurrency is a digital asset designed to work as a medium of exchange. It uses cryptography to secure transactions and control the creation of additional units of the currency. A cryptocurrency is difficult to counterfeit because of this security feature. This, combined with blockchain technology, makes cryptocurrencies less vulnerable to hacking than ordinary currencies. A cryptocurrency wallet stores the public key but usually not the private key.

A wallet is a piece of software that stores a person’s private key. You can hold multiple cryptocurrencies with a wallet, one of them will be your favorite. In case you are not sure what cryptocurrency is, take a look at some of the popular ones: Bitcoin is the oldest and most popular cryptocurrency in the world.

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